Geojit Tech takes over Dubai firm

Geojit Technologies, a subsidiary of Geojit Financial Services, has taken over Sigma Systems International FZ LLC, a Dubai-based company operating from the free trade zone in the technology sector there.

According to a press release issued by the company here, with the acquisition, Geojit Technologies would get access to the West Asia market. The company with proven software capabilities in financial and shipping sectors has clients from Asia and Europe.

For the financial sector, the company has Integrated Brokerage Management System (IBMS), which takes care of all back office operations integrating multiple stock exchanges, clients and branches. Integrated commodity management systems, software for the commodity business, takes care of all aspects of commodity trade including logistics.

Other software for the financial sector includes integrated depository management system, futures and options management system, portfolio management system and wealth care management system.

Software for shipping industry includes SLIM (shipping liner integrated management system), SAMS (shipping agency management system) and MTO (multi transport operation system).

"This acquisition will help the company to establish its presence in West Asia," said A Balakrishnan, managing director of the company.